loanDepot, Inc. (NYSE:LDI) Short Interest Update

loanDepot, Inc. (NYSE:LDI) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,700,000 shares, a drop of 24.8% from the October 31st total of 2,260,000 shares. Approximately 2.4% of the shares of the company are sold short. Based on an average trading volume of 867,600 shares, the days-to-cover ratio is currently 2.0 days.

loanDepot Price Performance

LDI stock traded down $0.05 during midday trading on Friday, reaching $2.25. 236,423 shares of the company’s stock traded hands, compared to its average volume of 978,659. The company has a 50-day simple moving average of $2.36 and a two-hundred day simple moving average of $2.24. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.76. loanDepot has a 1-year low of $1.52 and a 1-year high of $3.71. The company has a market cap of $735.75 million, a price-to-earnings ratio of -4.33 and a beta of 3.46.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LDI. The Goldman Sachs Group increased their target price on loanDepot from $1.70 to $2.70 and gave the stock a “sell” rating in a report on Thursday, November 14th. UBS Group increased their price objective on loanDepot from $2.30 to $2.50 and gave the stock a “neutral” rating in a research note on Thursday, September 5th.

Insiders Place Their Bets

In related news, insider Jeff Alexander Walsh sold 66,666 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $2.53, for a total value of $168,664.98. Following the sale, the insider now owns 3,938,792 shares of the company’s stock, valued at $9,965,143.76. The trade was a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Anthony Li Hsieh sold 10,141 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $2.57, for a total transaction of $26,062.37. Following the transaction, the director now owns 1,865,727 shares of the company’s stock, valued at approximately $4,794,918.39. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,669,223 shares of company stock worth $3,860,834. 83.04% of the stock is currently owned by company insiders.

Institutional Trading of loanDepot

Large investors have recently made changes to their positions in the business. Cetera Advisors LLC lifted its position in loanDepot by 66.3% during the 1st quarter. Cetera Advisors LLC now owns 113,354 shares of the company’s stock worth $294,000 after buying an additional 45,173 shares in the last quarter. Wolverine Asset Management LLC lifted its position in shares of loanDepot by 6.0% during the second quarter. Wolverine Asset Management LLC now owns 1,019,910 shares of the company’s stock worth $1,683,000 after purchasing an additional 57,546 shares in the last quarter. American Century Companies Inc. grew its stake in shares of loanDepot by 27.3% during the second quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock valued at $151,000 after purchasing an additional 19,655 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of loanDepot by 390.6% in the second quarter. Dimensional Fund Advisors LP now owns 198,724 shares of the company’s stock valued at $328,000 after purchasing an additional 158,221 shares in the last quarter. Finally, 272 Capital LP raised its position in loanDepot by 107.4% in the 2nd quarter. 272 Capital LP now owns 183,190 shares of the company’s stock worth $302,000 after purchasing an additional 94,883 shares during the last quarter. Institutional investors own 39.39% of the company’s stock.

About loanDepot

loanDepot, Inc engages in originating, financing, selling, and servicing residential mortgage loans in the United States. The company offers conventional agency-conforming and prime jumbo, federal assistance residential mortgage, and home equity loans. It also provides settlement services, which include captive title and escrow business; real estate services that cover captive real estate referral business; and insurance services, including services to homeowners, as well as other consumer insurance policies.